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PEP

PepsiCo

$111.93

0.75 (0.67%)

, DPS

Dr Pepper Snapple

$116.74

0.03 (0.03%)

08:14
02/13/18
02/13
08:14
02/13/18
08:14

PepsiCo: Looking to understand strategy behind Dr Pepper Snapple, Keurig deal

PEP

PepsiCo

$111.93

0.75 (0.67%)

DPS

Dr Pepper Snapple

$116.74

0.03 (0.03%)

  • 13

    Feb

  • 14

    Feb

  • 19

    Feb

PEP PepsiCo
$111.93

0.75 (0.67%)

01/29/18
RHCO
01/29/18
INITIATION
Target $125
RHCO
Hold
PepsiCo initiated with a Hold at SunTrust
SunTrust initiated PepsiCo with a Hold and $125 price target.
01/29/18
RHCO
01/29/18
INITIATION
Target $125
RHCO
Hold
PepsiCo initiated with a Hold at SunTrust
As reported earlier, SunTrust analyst William Chappell initiated PepsiCo (PEP) with a Hold rating and a price target of $125. Chappell contends that after 5 years of price and promotion with Coca-Cola (KO), the companies' next phase will likely see "price increases or at least less promotional activity" on some beverage items. The analyst also notes that the investor concerns about the snacking category are overblown, pointing some recovery in Q4, while the positive FX, emerging markets, and tax reform dynamics create more tailwinds.
01/29/18
01/29/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. PepsiCo (PEP) initiated with a Hold at SunTrust. 2. Synlogic (SYBX) initiated with an Overweight at Piper Jaffray. 3. Centennial Resource Development (CDEV) initiated with a Buy at Guggenheim. 4. Zynerba (ZYNE) initiated with a Buy at Ladenburg. 5. Radius Health (RDUS) initiated with an Overweight at Morgan Stanley. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
01/30/18
BERN
01/30/18
NO CHANGE
Target $124
BERN
Market Perform
Dr Pepper Snapple price target raised to $124 from $92 at Bernstein
Bernstein analyst Ali Dibadj raised his price target for Dr Pepper Snapple to $124 from $92 after the company and Keurig Green Mountain announced a definitive merger agreement to create public company Keurig Dr Pepper. While the analyst views this merger as good for Dr Pepper Snapple shareholders, there are unanswered questions about the prospects as a combined entity, with revenue synergies remaining unclear, synergy targets appearing stretched, and the Coca-Cola (KO)/PepsiCo (PEP) distribution partnership remaining a risk. Dibadj reiterates a Market Perform rating on Dr Pepper Snapple's shares.
DPS Dr Pepper Snapple
$116.74

0.03 (0.03%)

01/31/18
MSCO
01/31/18
DOWNGRADE
Target $121
MSCO
Equal Weight
Dr Pepper Snapple downgraded to Equal Weight at Morgan Stanley
Morgan Stanley analyst Dara Mohsenian downgraded Dr Pepper Snapple to Equal Weight from Overweight yesterday following the company's announcement of a merger agreement with Keurig to create Keurig Dr Pepper. He raised his price target on Dr Pepper shares to $121 from $105.
02/01/18
BMOC
02/01/18
DOWNGRADE
Target $125
BMOC
Market Perform
Dr Pepper Snapple downgraded to Market Perform from Outperform at BMO Capital
BMO Capital analyst Amit Sharma downgraded Dr Pepper Snapple to Market Perform from Outperform but also raised his price target to $125 from $105. Sharma points to the additional disclosures of the Keurig Green Mountain merger, which suggest to him that EBITDA and annualized growth rate estimates will be below the company's 2021 outlooks. Despite the limited upside for Keurig, the analyst still contends that the combined company can execute on its cost agenda, generate revenue synergies, and is now "better positioned to acquire faster growing partner brands."
02/06/18
LEHM
02/06/18
UPGRADE
Target $130
LEHM
Overweight
Dr Pepper Snapple upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Lauren Lieberman upgraded Dr Pepper Snapple Group to Overweight and raised her price target for the shares to $130 from $88. The analyst sees upside to cost savings and cash generation targets for the new business following the merger with Keurig. She believes the combined entity is being undervalued.

TODAY'S FREE FLY STORIES

ENIA

Enel Americas

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UL

Unilever; also tag UN

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OAS

Oasis Petroleum

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, OMP

Oasis Midstream Partners

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INSM

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$20.86

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F

Ford

$11.88

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  • 20

    Jun

MSFT

Microsoft

$100.24

-1.14 (-1.12%)

, GOOGL

Alphabet Class A

$1,159.03

-1.08 (-0.09%)

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$1,159.03

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$1,151.95

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Wells Fargo

$54.99

0.23 (0.42%)

, MS

Morgan Stanley

$51.17

-0.12 (-0.23%)

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Wells Fargo

$54.99

0.23 (0.42%)

MS

Morgan Stanley

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BAC

Bank of America

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C

Citi

$66.34

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WBK

Westpac Banking

$20.67

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GS

Goldman Sachs

$232.00

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BCS

Barclays

$10.59

-0.225 (-2.08%)

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F

Ford

$11.88

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BMY

Bristol-Myers

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PTCT

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CYTK

Cytokinetics

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Verastem

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IQ

iQIYI

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HD

Home Depot

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PAY

Verifone

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CACI

CACI

$167.60

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  • 21

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ARGX

Argenx

$92.38

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  • 20

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PTC

PTC

$94.87

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VRX

Valeant

$26.86

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  • 18

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WMGI

Wright Medical

$25.83

-0.26 (-1.00%)

13:27
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